bitmain preparing for stock listing

Crypto Mining Company Bitmain is Preparing a Stock Exchange Listing

Can raise up to three billion dollars in connection with the process as per the data.

Bitmain Technologies, the leading company for crypto demanding equipment, is preparing a listing in Hong Kong. It reports sources to Bloomberg News.

An application is scheduled to be filed in early September, and Bitmain can collect $ 3 billion in the process, according to the insiders.

What Bitmain is expected to get is not shown. On the other hand, the sources said the company had recently held a private funding round that valued it to about $ 15 billion.

Bitmain’s plans for the stock exchange will otherwise be a good temperature gauge for investors’ interest in cryptocurrencies. Since the peak in January, the decline for the market has been 75 percent.

Bitmain, founded in 2013, can capitalize on new areas such as artificial intelligence with the capital of a listing. This was raised as an opportunity by co-founder Jihan Wu in an interview last spring.

“The challenge is to advance our technology beyond what we have already achieved,” he told Bloomberg.